Rivian's Stock Grossly Undervalued? Fund Manager Predicts Tesla-Like Turnaround Following New Vehicle Line-Up Announcements (CORRECTED)
Portfolio Pulse from Shanthi Rexaline
Rivian Automotive, Inc. (RIVN) shares have rebounded following the announcement of new vehicle models, including the R2, R3, and R3X. Fund manager Gary Black predicts significant production increases and potential stock price growth, drawing parallels to Tesla's past performance. Black forecasts Rivian's production to reach 615,000 units in five to seven years, with revenue potentially hitting $22.7 billion and EBITDA $2.5 billion by 2030. He suggests a 136% upside potential for Rivian's stock, comparing valuation metrics to Tesla.
March 09, 2024 | 3:28 am
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POSITIVE IMPACT
Rivian's stock is predicted to have significant upside potential following the announcement of new vehicle models and a positive production forecast by fund manager Gary Black.
The announcement of new vehicle models and a positive production forecast by a reputable fund manager could significantly boost investor confidence and demand for RIVN shares, leading to potential short-term price appreciation.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
The Future Fund Active ETF (FFND), which includes Rivian (RIVN) and Tesla (TSLA) in its portfolio, may see an impact based on the performance and market perception of these companies.
While the direct impact on FFND's price may be less pronounced due to its diversified portfolio, significant movements in RIVN or TSLA shares could influence the ETF's performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50